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Ford Says Auto Loans Are
Still Available for Customers

By

Matthew Dolan

Updated Oct. 16, 2008 3:52 p.m. ET

Ford Motor Co. sent a letter to dealers that sought to reassure their customers that the auto maker still has a credit arm willing to lend. The move had become necessary as the company worried car buyers were staying away from showrooms because they were convinced they wouldn't qualify for a loan.

The letter sent Wednesday comes as GMAC LLC, the big home-loan and auto-financing company, this week began restricting new loans to only the most credit-worthy buyers after an attempt to raise new funds failed. Limiting the pool...